Mumbai, Feb. 2 (PTI): Nearly 52,000 hotel rooms are expected to be added over the next five years on rising demand from travellers as global economic conditions improve, says a report.
“The hospitality sector will see a rise of over 65 per cent in total hotel inventory by 2017 as nearly 52,000 new hotel rooms are expected to come into existence,” according to property consultant Cushman & Wakefield (C&W).
“The sector is expected to witness better demand in the coming years on account of improved global economic conditions,” it said.
Many projects which were delayed in the last two years are expected to be completed.
“Even while India is considered to be an attractive market for both leisure and business travel, there are some inherent deficiencies because of which hospitality projects have hitherto taken long to come up, including aspects such as funding and regulatory issues,” C&W regional director (South and South East Asia) Akshay Kulkarni said.
Hoteliers are seen to be concentrating on business destinations such as the Naitional Capital Region, Mumbai and Bangalore.